Goods and Services Tax Treatment on Coal in Australia

goods and services tax australia

goods and services tax australia

Australia apply the Goods and Services Tax (GST) since July 1, 2000, replacing the system of sales tax on wholesalers in the federal state. GST rate applied is 10% which is widely applied to goods and services. The tax is administered by the Australian Taxation Office (ATO). Seller shall calculate the GST in the price of goods delivered to the buyer. Sellers may claim the credit on the purchase of goods called GST credit.

Applied GST exemption is limited to medicines and basic foodstuffs. Exceptions relating to the imposition on the input applied to the financial services and housing to shelter. 0% export tariff is good for exports of goods and services. For products exported by the mining company, the tax paid on the acquisition of goods and services can be returned (refund) by the mining company.

There are two types of sales that have different treatments: First, For the seller / provider for the delivery of goods and services exempt from GST, they remain eligible for a GST credit. Second, those sellers / providers are not subject to GST, they are not eligible for the GST credit obtained from the purchase of goods and services.

Sales taxes in the United States

Taxation in the United States

Taxation in the United States

United States does not apply VAT. US impose sales tax either at central level or at the state level. Sales tax is applied at the level of the retailer.

Not all products are subject to sales tax, each state is different in determining the goods are excluded. Food and clothing are usually excluded, as are some of pharmaceutical products. Sales tax rates vary between states. There are five states that do not apply the sales tax, namely Alaska, Delaware, Montana, New Hamphire, and Oregon. But even so some local administration in five states will still apply sales tax, and others apply the sales tax on certain goods and services.

US sales tax imposed on the sale of the last chain, so it does not apply if a product is resold or further processed. Sales tax is generally imposed on goods that can be transferred so that the real estate is excluded. Intangible property such as stocks and bonds are also excluded.